Wells Fargo Short Sale – Black Mountain, NC

This short sale was incredibly over-leveraged.  The outstanding debt to Wells Fargo was more than twice the amount the property sold for as a short sale.  Yet again, this short sale was attorney-negotiated (as they all should be).  That’s a function of the property condition (not so good) and market condition (also not so good).  But most importantly, Wells Fargo agreed to accept the payoff as a full satisfaction of the debt.

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